we have a 2007 farm that we are rebuilding in 2010. I want to take advantage of some of the new feature like Managed Metadata and I was wondering if there were any good tools out there that can migrate from a text type field to a Taxonomy or Lookup field?

2 Answers
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I have not seen a specific tool that does this, but my approach would be to define the new field and then create a powershell script that would iterate the items and move the data from source to destination field.

The field could be defined in the powershell if needed.

The challenge with this approach is that the update would be logged so all records would be showing as recently being modified by the user running the update. This would also be a challenge with lists or libraries with workflows that execute on edit.